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National Credit Union Service Organization

EDUCATION 1ST CREDIT UNION

Dec, 31, 2021 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $43.08 million in total assets. Opened 90 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,621 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:EDUCATION 1ST CREDIT UNION
Address:
(Main Office)
1250 Country Hills Dr
OGDEN, UT 84403-2560
Phone:(801) 392-4877
Fax:(801) 392-4879
Website:http://e1cu.org
Branches:1 branch locations
Members:2,621
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67127
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$43,083,006
CEO/Manager:Kent M Greenfield
Chairperson:Bruce Christensen

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,956,578
TOTAL INVESTMENTS 3,795,832
Loans Held for Sale 0
 
 Real Estate Loans 13,112,192
 Unsecured Loans 1,974,476
 Other Loans 11,912,081
 TOTAL LOANS 30,180,297
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -193,024
 Land And Building 239,648
 Other Fixed Assets 193,369
 NCUSIF Deposit 337,118
 All Other Assets 1,573,188
  TOTAL ASSETS 43,083,006
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 119,341
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,292,761
 Regular shares 16,820,599
 All Other Shares & Deposits 10,598,026
  TOTAL SHARES & DEPOSITS 38,711,386
  TOTAL LIABILITIES 38,830,727
 Regular Reserve 1,820,020
 Other Reserves 0
 Undivided Earnings 2,432,259
  TOTAL EQUITY 4,252,279
  TOTAL LIABILITIES, SHARES, & EQUITY 43,083,006
INCOME & EXPENSE  
 Loan Income 1,332,441
 Investment Income 39,379
 Other Income 275,797
 Total Employee Compensation & Benefits 759,069
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 581,834
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,500
 Cost of Funds 161,609
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 367,273
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